COMPARE CLOSING LLC

Cash Out Refinances  on  Rental Property Do you know Why the banks like to  Cash Out Refinance on Rental Property Today we will discuss about  cash out refinance on rental property  the passive income and why banks want to give money to you on your rental properties. You probably took a mortgage on a rental property when you bought it. But the banks like the properties which are purchased on cash so that you have some skin in the game! and you own that rental property upfront. The truth is that when it comes to investing your money, getting rental properties, growing your portfolio,  doing it the BRRRR, ( Buy Renovate Rent Refinance Repeat ) method seems to be the right way. However, the real deal of real estate investment is that you need to get money out of the investments that you have made. The key to getting your money from your rental property is to  refinance and get a cash-out . This is an age-old strategy that all the inve...

Assuming you have already decided to get a  mortgage loan  or a refinance, we can discuss a few common do’s and don’ts while you are in the process of getting one. This way you can avoid any pitfall that could lead to cancellation of the loan that you and your loan officer have been working so hard. Preparation It doesn’t matter if you are getting a loan or a refinance, what is important is that you prepare well before you apply for the same. It includes in making sure you have all the documents ready like your W2’s, pay stubs, home owner’s insurance, bank statements, etc. Keeping your debts to a minimum could be a great help. Check your credit score before you apply and make sure there are no discrepancies on your credit. Even if there are, get in touch with the respective creditor or the  credit bureau  to get it resolved before you apply. If you are planning to buy a new house make sure you know how m...